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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4515 Merle Hay Rd Des Moines, IA 50310-1415

    • Automotive properties
    • 5,650 SF
    • 3.92 lot acres
    OFF-MARKET
    Value Estimations
    $1,040,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-2549426
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Buy Here Pay Here / Car Dealer

    Property Details for 4515 Merle Hay Rd

    Year built
    2003
    Construction
    FRAME
    Lot size
    3.92 lot acres
    Property size
    5,650 SF
    Zone code
    C-2
    Property type
    Automotive properties
    APN
    100/13383-002-009
    APU
    10013383002009

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,088,000
      Market price range: $302k - $1.09M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $975,000
      Current use
      MEDICAL BUILDING
      $940,000
      Change: -3% Conversion: Difficult
      RESTAURANT
      $870,000
      Change: -10% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $830,000
      Change: -14% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6952
    Latitude
    41.6423
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $92,472
    $1,655,800
    $1,383,600
    $3,039,400
    -
    $1,655,800
    $1,383,600
    $3,039,400

    Comparable in this City

    • Value Estimation
      $1,535,000
      4,936 SF

      4550 Merle Hay Rd

      VEHICLE SALES, RENTALS • 4,936 SF
      4550 Merle Hay Rd, Des Moines, IA 50310-1414
      View Details
    • Value Estimation
      $630,000
      5,600 SF

      4512 Merle Hay Rd

      VEHICLE SALES, RENTALS • 5,600 SF
      4512 Merle Hay Rd, Des Moines, IA 50310-1410
      View Details
    • Value Estimation
      $3,100,000
      17,193 SF

      4475 Merle Hay Rd

      VEHICLE SALES, RENTALS • 17,193 SF
      4475 Merle Hay Rd, Des Moines, IA 50310-1413
      View Details
    • Value Estimation
      $3,495,000
      23,560 SF

      4224 Merle Hay Rd

      VEHICLE SALES, RENTALS • 23,560 SF
      4224 Merle Hay Rd, Des Moines, IA 50310-1317
      View Details
    • Value Estimation by Request
      1,421 SF

      2500 Douglas Ave

      VEHICLE SALES, RENTALS • 1,421 SF
      2500 Douglas Ave, Des Moines, IA 50310-5743
      View Details
    • Value Estimation by Request
      2,312 SF

      2713 Martin Luther King Jr Pkwy

      VEHICLE SALES, RENTALS • 2,312 SF
      2713 Martin Luther King Jr Pkwy, Des Moines, IA 50310-6221
      View Details

    Similar Nearby for Sale

    • $975,000
      12,220 SF

      Retail Space in Harding Hills

      Junior anchor space available for sale or lease.
      3430 Martin Luther King Jr Pkwy, Des Moines, IA 50310
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    • $1,175,000
      5.90 Acres

      Des Moines Development Land

      6-Acre Mixed-Use Development Site
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    • $750,000
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      Freestanding Retail Building For Sale

      Freestanding retail building with showroom, warehouse, and office space.
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    • $230,000
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      Versatile Office/Retail Building in Des Moines

      2,437 SF building in Beaverdale neighborhood, ready for buildout.
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      Des Moines Commercial Land Available

      Commercial land available in Des Moines with high traffic counts.
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    • $299,000
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      Well-maintained mixed-use building with apartments and office units.
      3810 38Th St, Des Moines, IA 50310
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    Similar Nearby for Lease

    • $10 SF/Yr
      22,220 SF

      Automotive Property with Outdoor Storage

      Turnkey automotive property with paint booth and outdoor storage.
      4410 Merle Hay Rd, Des Moines, IA 50310
      View Details
    • Contact for pricing
      223,876 SF

      Des Moines Retail Space Available

      Prime Retail Space, Multiple Units Available
      4094 Merle Hay Rd, Des Moines, IA 50310
      View Details
    • $9 SF/Yr
      25,187 SF

      Franklin Plaza Shops: Office Suites

      Prime Polk County office space available.
      4944 Franklin Ave, Des Moines, IA 50310
      View Details
    • Contact for pricing
      56,700 SF

      Des Moines Retail Space - Merle Hay Rd

      High-profile retail space, Des Moines, IA.
      4343 Merle Hay Rd, Des Moines, IA 50310
      View Details
    • Contact for pricing
      269,705 SF

      Haymarket Square: Retail Opportunity

      Prime Shopping Center, 5 Spaces Available
      4365 Merle Hay Rd, Des Moines, IA 50310
      View Details
    • $24 SF/Yr
      4,092 SF

      Freestanding Retail Space on Corner

      Retail property with high visibility and existing restaurant infrastructure.
      4212 Merle Hay Rd, Des Moines, IA 50310
      View Details
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    4515 Merle Hay Rd
    Des Moines, IA 50310-1415
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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